TechCrunch

DECEMBER 17, 2020

Umba , a digital bank for emerging markets and aiming first at Africa, has secured a $2 million seed funding round from new investors including Lachy Groom, ex-Head of Issuing at Stripe; Ludlow Ventures; Frontline Ventures and Act Venture. Stripe acquires Nigeria’s Paystack for $200M+ to expand into the African continent.

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TechCrunch

APRIL 5, 2022

The number of POS terminals in Nigeria grew from 150,000 in 2017 to 543,000 in April 2021, according to Statista. In Nigeria, POS terminals are used to process card payments at retail locations as well as for agency banking purposes, a branchless banking system where agents act like human ATMs.

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TechCrunch

MARCH 2, 2021

The Future Africa Fund kicked off in 2015 when Iyinoluwa Aboyeji and Nadayar Enegesi , co-founders of US-based and African-focused talent company Andela, wrote checks to African startups as angel investors. In January 2020, the pair made the fund official, with Aboyeji as general partner and Enegesi as limited partner.

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TechCrunch

FEBRUARY 14, 2022

Remedial Health has secured $1 million in pre-seed funding to digitize pharmacies and stem the supply of fake and substandard pharmaceutical products, starting with Nigeria before expanding to the rest of Africa. Part of the new funding will be used to extend the startup’s buy now, pay later (BNPL) offering, for an even wider reach.

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Nigeria Digital Africa Raise 94

TechCrunch

JANUARY 26, 2022

Husk Power Systems , a clean energy company that has been at the forefront of fueling rural electrification since 2008, is planning to launch 500 solar mini-grids in Nigeria over the next five years. In November last year, Husk launched its first six mini-grids in Nigeria, and is looking to have 100 operational within two years.

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TechCrunch

JULY 6, 2021

However , some venture firms have taken this up a notch by bringing founders to create a fund and invest together. Since the firm’s first fund launched in 2017, MAGIC has invested in 70 companies at pre-seed and seed stages across these emerging markets. MAGIC Fund has 12 founders who act as general partners.

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Fund Global Raise Africa 130

TechCrunch

SEPTEMBER 12, 2022

Kippa said the investment will allow it to develop financial products that help SMEs grow their businesses and grow its team in Nigeria. As such, startups have launched various bookkeeping solutions to digitize operations of these small businesses in a traditional retail sector worth more than $200 billion alone in Nigeria.

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TechCrunch

FEBRUARY 9, 2022

Nigeria has more than 12 million registered vehicles , and approximately 90% of them are used cars that need frequent checkups to prevent recurring breakdowns. Given this number, one would expect effective vehicle maintenance to be standard in Nigeria. million seed round. .

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TechCrunch

JULY 26, 2021

Olumide Soyombo is one of the well-known active angel investors in Nigeria tech startups and Africa at large. Voltron will be deploying capital to roughly 30 startups, mostly in pre-seed and seed-stage across Africa, in a bid to “address the severe lack of access to early-stage funding for African tech companies.”

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Fund Profile Nigeria Africa 109

TechCrunch

FEBRUARY 16, 2022

Nigeria has an average of 4.8 “ When you look at most of the successful companies in Nigeria, they all had to build some sort of offline distribution.”. Typically , more than 200,000 agents across Nigeria refinance their working capital by taking long walks to the banks or the fintechs they work for like TeamApt.

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TechCrunch

NOVEMBER 15, 2021

Africa Health Holdings , a healthcare startup running several hospitals, has secured $18 million in a Series A round, funds that will go toward building its “tech-forward healthcare system” across Ghana, Kenya and Nigeria. Valiant Capital, Kepple Ventures and SUNU Capital. Valiant Capital, Kepple Ventures and SUNU Capital.

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TechCrunch

MARCH 17, 2022

However, for all their effort and importance to the tech ecosystem, raising significant venture capital seemed elusive to startups in Africa’s digital media landscape that rely on grants and personal funding to scale. million in seed funding to expand its audience and build new verticals. But not long ago, in the mid-2010s, U.S.

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Media Fund Companies Raise 119

TechCrunch

AUGUST 20, 2021

The process of digitizing the operations of mom and pop stores in Nigeria is serious business right now. Today’s news is from Alerzo , a little-known B2B e-commerce retail startup based in Ibadan, Nigeria. Omnibiz gets $3M to digitize Nigeria’s informal B2B supply chain. The company is announcing a $10.5

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Nigeria Raise Online Asia 145

TechCrunch

DECEMBER 12, 2022

million in “expansion” funding from Aruwa Capital, a Nigeria-based early-stage growth equity and gender-lens fund. . The initial product brought in $165,000 in seed funding from investors such as CcHUB Growth Capital, Montane Capital and B-Knight. When Dada launched the platform, its target audience was solely businesses.

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TechCrunch

NOVEMBER 16, 2021

Shared transportation in Nigeria, Africa’s largest country by population, is a thriving business, at least when done the conventional way: offline. million in seed funding from several investors to blitz scale within and outside Nigeria. million in funding, money also used to acquire a similar player in Ghana. “We

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TechCrunch

NOVEMBER 3, 2021

Nigeria’s lending startup Payhippo has raised $3 million in a seed round, funding the company plans to use in sourcing the talent needed to optimize its technology as it ramps up effort to extend speedy credit to more small and medium-sized enterprises (SMEs) in the West African country. . Others include Carbon and FairMoney.

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Nigeria Fund Raise San Francisco 96

TechCrunch

FEBRUARY 7, 2022

Kuti’s comments highlight critical issues with healthcare in Nigeria: accessibility and affordability. In Nigeria and some emerging markets, it’s common for people to take healthcare for granted. In 2015, the three co-founders launched Kangpe, a telemedicine-focused startup in Nigeria with a “doctor in your pocket” slogan.

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TechCrunch

AUGUST 31, 2022

million in seed funding. pre-seed to build financial OS for B2B companies in Nigeria. For finance teams, the B2B payments startup automates invoice generation and processing, receiving and approving bills, collecting and disbursing funds, and completing account reconciliation. YC-backed Duplo raises $1.3M

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TechCrunch

APRIL 21, 2021

The last five years have seen a plethora of fintech applications in Nigeria (and Africa, in general) grow at an astonishing rate. Today, Nigeria’s Okra , arguably the first to gain mainstream attention, is announcing that it has closed a seed round of $3.5 Nigeria is becoming Africa’s unofficial tech capital.

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Nigeria Raise Africa API 145

TechCrunch

MAY 26, 2021

The fundraising is coming two years after OPay announced two funding rounds in 2019 — $50 million in June and $120 million Series B in November. OPay also claims to process about 80% of bank transfers among mobile money operators in Nigeria and 20% of the country’s non-merchant point of sales transactions.

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Nigeria Africa Raise Report 135

TechCrunch

MAY 4, 2022

His experience from this activity, coupled with working as a technical adviser to the vice president’s office in Nigeria a couple of months back, led him to launch Norebase , a trade tech startup that has raised $1 million in a pre-seed round. The service, which is only available for incorporating businesses in Nigeria, the U.S.

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TechCrunch

DECEMBER 30, 2021

Stephen Deng, the co-founder and partner of DFS Lab, a firm that invests in digital commerce startups, serially compared the 2016 Southeast Asia funding landscape to where Africa might be in 2021, at $3 billion. What’s a record year of funding without some unicorns? billion and $2.8 These predictions weren’t entirely off the mark.

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TechCrunch

MARCH 28, 2023

Fez Delivery , a Lagos-based last-mile logistics startup with hubs across Nigeria, has raised $1 million led by pan-African investor Ventures Platform with participation from Voltron Capital, Acasia Ventures and other angel investors.

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Platform Nigeria Fund Africa 98

TechCrunch

MAY 5, 2022

Rali_cap , an early-stage venture capital firm focused on emerging markets fintech, has launched a $30 million fund. Last month, the firm, formerly known as Rally Cap Ventures, reached its first close of $20 million (its initial target) before increasing the fund size, signaling a strong LP appetite. About 40% are based in the U.S.,

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TechCrunch

AUGUST 6, 2021

This past decade, Nigeria has seen several companies cater to the development and growth of software engineers and tech talent in general. Nwobi says Decagon aims to address the underrepresentation of black people in tech globally, starting with Nigeria. Since it’s pivot, funding has relatively stalled for most of these companies.

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TechCrunch

JANUARY 25, 2021

Microtraction , an early-stage venture capital firm based in Lagos, Nigeria, saw funding nearly quadruple for its portfolio. In a review of the year published last week, the firm noted that 21 companies in its portfolio have raised more than $33 million in funding. But it’s completely different in Africa.

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TechCrunch

APRIL 12, 2021

The company based in Lagos, Nigeria, was founded by Emeka Emetarom , Obi Emetarom and Wale Onawunmi in 2008. Nigeria is becoming Africa’s unofficial tech capital. One way it wants to carry this out will be to take its pan-African expansion seriously even though a large part of its 450 clients are based in Nigeria.

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TechCrunch

FEBRUARY 11, 2021

To understand how much growth has occurred, African startups raised a meagre $400 million in 2015 compared to the $2 billion that came into the continent in 2019, according to Africa-focused fund Partech Africa. Investments did pick up, and from July, VC funding on the continent had a bullish run until December. billion and $1.8

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South Africa Raise Africa Ghana 129

TechCrunch

MARCH 22, 2021

to reach a relative in Nigeria. Ben Eluan and Osezele Orukpe , two software engineers based in Nigeria, faced this problem in 2019. Pioneer gives founders access to funding streams and talent hardly found outside Silicon Valley. Nigeria is becoming Africa’s unofficial tech capital. The platform charges $0.50

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TechCrunch

SEPTEMBER 10, 2022

Countries such as Nigeria, Kenya and South Africa are majorly responsible for skyrocketing adoption rates as citizens try to hedge against currency devaluation and build wealth. This is something that we specifically value in our fund and what Bitmama in particular delivers.”. CEO Ruth Iselema.

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TechCrunch

JANUARY 12, 2022

SeamlessHR , a Nigeria-based company that wants to help African businesses “leverage the continent’s greatest asset: abundant human capital” with its cloud-based human resources (HR) and payroll software, has raised $10 million in Series A funding for its next phase of growth and regional expansion. billion in 2026 from $14.2

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Africa Nigeria Raise South Africa 138

TechCrunch

JANUARY 28, 2021

Catalyst Fund , a global accelerator managed by BFA Global , announced the 8th cohort for its Inclusive Fintech Program today. With a focus on Kenya, Nigeria, South Africa, Mexico and India, selected startups receive £80,000 (~$100,000) in grant capital, six months of support and connections with follow-on investors.

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TechCrunch

JANUARY 27, 2022

sponsors meetups all across the globe (from Mexico City to Lagos, Nigeria) so that thousands of fellow “fintech friends” — as he calls them — can network and get to know each other. Image Credits: Lagos, Nigeria meetup / The Fintech Fund. In addition to publishing the newsletter, Milanovi? s fintech aspirations.

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TechCrunch

FEBRUARY 14, 2023

In the latest development, Curacel , a Nigeria-based platform that aims to drive insurance penetration in emerging markets via APIs enabling insurers to connect with digital distribution channels and administer their claims, has raised $3 million in seed funding.

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TechCrunch

AUGUST 16, 2022

This undisclosed investment is Google’s third from the $50 million Africa Investment Fund targeted at the continent’s early- and growth-stage startups, which the company CEO Sundar Pichai announced last October. The fund is part of Google’s plan to invest $1 billion in “tech-led initiatives” over the next five years.

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TechCrunch

MAY 3, 2022

Norway’s Pangea Trust, through its equity crowdfunding platform Connect , is unlocking diaspora remittance inflows as funding source for early and growth-stage startups in Africa. Remittances from abroad reached $45 billion in 2021, with Nigeria, Ghana, Kenya, Senegal and Zimbabwe leading the list of recipient countries.

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TechCrunch

MARCH 7, 2022

So, u sers from different countries — Ghana, Nigeria and Kenya, for now — can connect their bank or mobile money accounts to Dash, pay bills, and send and receive money to other users while the platform handles currency conversions. Dash claimed to process over $300 million in TPV in January, up 300% monthly from Q4 2021.

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